APPLife Digital Solutions signs binding LOI to acquire LeSalon Beauty for $1.4M in cash and stock

APPlife Digital Solutions Inc

Total purchase price of $1,400,000: $100,000 cash at closing plus $1,300,000 in Rule 144 common stock (13,000,000 shares at $0.10/share).
Closing anticipated around August 30, 2023; stock issuance within 45 days post-closing.
Make-up guarantee: if 3-day avg stock price stays below $0.10 over 6 months, issuer will compensate the shortfall in additional shares.
Assets include customer accounts, platform code, domain, trademarks, social media, trade secrets, and marketing plans.
Three founders (Jean-Michel Chalayer, Natasha Pilbrow, Nabil Freeman) will provide transition services for 12 months post-acquisition.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

APPlife Digital Solutions Inc entered into LOI with LeSalon Beauty Ltd. valued at total purchase price of $1,400,000 (effective 2023-08-09).

Action: entry
Agreement: asset purchase
Counterparty: LeSalon Beauty Ltd.
Value: total purchase price of $1,400,000
Effective: 2023-08-09

Exact text from the filing

On August 9, 2023, APPLife Digital Solutions, Inc. (“we” or the “Company”) entered into a binding LOI (the “LOI”) with LeSalon Beauty Ltd., a company incorporated in England and Wales (“LeSalon”).

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APPlife Digital Solutions Inc filing history →

Source: SEC EDGAR

accession 0001096906-23-001562

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